Think Color in 2014

THE INTERNATIONAL GATEWAY TO MIAMI REAL ESTATE

Miami’s amazing lifestyle, climate, and endless beauty, combined with incredible property values continues to make the unique city of Miami a worldwide attraction. The proof is clearly in the numbers. Miami International Airport is the second largest U.S. airport for international passengers.

Miami’s real estate market has recovered nicely over the past year. Prices are increasing, and homes are selling much quicker than they were last year. Tourists are visiting Miami in record numbers, and the city continues to grow – leading to increased property demand.The Miami real estate market continues to strengthen as it nears a full year of significant price increases fuelled by strong sales and an inventory shortage, according to the latest report from the Miami Association of Realtors.

Despite very limited inventory, total residential sales in Miami-Dade County surged 24.2% in October compared to a year earlier. The sales of existing condominiums in Miami-Dade increased 13.1% while sales of single family homes increased 41.9%.
Intense demand for Miami properties continues to fuel robust price appreciation. Demand from investors, foreign and vacation buyers as well as US and local residents remains very strong.The world is focused on Miami where population growth, global business expansion, and record tourism are just a few of the factors attracting attention on many fronts and will continue to fuel demand long into the future.

Nearly 90% of foreign buyers in Florida purchase properties all cash. This reflects the much stronger presence of international buyers in the Miami real estate market. These international visitors often purchase second homes or investment properties to take advantage of favorable currency exchange and desirable investment opportunities while buying their own little piece of Miami paradise at prices even below their home country’s’.

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